ComplaintsforRausch Coleman Mid-Ark, LLC

• Initial Complaint

  12/28/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  On November 22nd I entered into a contract with this company to buy a new house. I paid the Earnest Money. I jumped through hoops to get all the requirments meet but after almost 30 days was still struggling to provide suitable empoyment verification and, what they referred to as "sourceble Income" for the down payment. I just needed some more time but the seller Rausch Coleman Homes denied me more time for closing, terminated my contract just after the period that was agreed to in the contract. While this is legal and I don't have leg to stand on, I feel like the lack of human compasion, the unwillingness to try to help and the lack of transparentcy duing the period was unexceptable. I believe that they will take someones earnest money while suspecting that they don't have much of a chance of closing on time and then just terminate their contract as soon as they can, take their hard earned money and just move on without reguard to the persons well being. It's just another greedy American corporation that is demoralizing the American culture.

  Business response

  01/04/2024

  To Whom It May Concern,

  As noted by the complainant, Rausch Coleman acted appropriately and in accordance with the agreed upon terms of the contract.  Rausch Coleman had or has no control over the complainant’s ability to obtain financing approvals.  While Rausch Coleman would have preferred to complete the sale of the home, ultimately, the contract was terminated, and the earnest money was retained pursuant to the agreed upon terms of the contract and as is customary in real estate contracts wherein the buyer defaults or is unable to close the transaction.  Thank you. 

  Customer response

  01/04/2024

  Complaint: ********
  
  I am rejecting this response because:
  I'm perfectly aware that the business is exorcising their contractual right however, nowhere does it state that the business MUST retain the earnest money. I'm simply asking for a special consideration as I could have closed in a few more weeks but was denied sufficient time. I realize also that the business is not obligated to allow the extension however, I don't know why they couldn't.

  The business will loose the opportunity for a future sale with me. If they would just  refund my earnest money I would use it for a future opportunity and be more prepared now that I have learned about all that is involved.

  It seems like it would be a win/win for both parties as I would be satisfied and they would gain a future sale.

  Sincerely,
  ***** ****

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